AZ SB1206

Requires corporations, limited liability companies, and labor organizations making independent expenditures above certain thresholds ($5,000 for statewide races, $2,500 for legislative races, $1,000 for local races) to register and notify filing officers within one day of the expenditure.

Mandates disclosure statements on all literature and advertisements funded by these entities, including the words "paid for by" followed by the entity name and the four largest major funding sources at the time of production, with notation if out-of-state contributors are a major source.

Specifies disclosure format requirements: spoken disclosure for radio ads, printed disclosures for mail materials, and both written and spoken disclosures for broadcast communications (with exceptions for visual displays lasting sufficient duration).

Imposes civil penalties up to three times the total expenditure amount for failures to register, notify, or disclose, and classifies knowingly false filings as class 1 misdemeanors.

Requires entities organized primarily to influence elections that accept donations to file campaign finance reports as political committees.